Business development 2008
The Brose Group again showed a strong performance in 2008, continuing its growth of recent decades. Thanks to the acquisition of Continental AG’s electric motors division, it posted a significant increase in its global turnover. Revenues came to 2.8 billion euros, a gain of 13%. This figure includes some 450 million euros in sales from the Drives division.
Vigorous growth in the first three quarters was followed by an abrupt downturn, with customer call-offs declining by up to 40% in the final quarter. As a result, the original turnover target of 3.1 billion euros was not quite achieved.
Business performance was different in the individual product areas. Whereas sales of door systems fell by 9%, there was a 3% increase in the seat systems business and a 4% increase in the closure system business, in spite of the crisis.
In 2008 we spent 10% of sales revenues on developing new products and production methods, information technology as well as personnel training and development. We also invested some 200 million euros in expanding our technological expertise.
Vigorous growth in the first three quarters was followed by an abrupt downturn, with customer call-offs declining by up to 40% in the final quarter. As a result, the original turnover target of 3.1 billion euros was not quite achieved.
Business performance was different in the individual product areas. Whereas sales of door systems fell by 9%, there was a 3% increase in the seat systems business and a 4% increase in the closure system business, in spite of the crisis.
In 2008 we spent 10% of sales revenues on developing new products and production methods, information technology as well as personnel training and development. We also invested some 200 million euros in expanding our technological expertise.
